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Baltic crisis "bottomed out" - IMF

  • 2010-08-27
  • TBT Staff

RIGA - A senior International Monetary Fund official has said the economic crisis in the Baltic States has "bottomed out" and that the economies of the three countries have now "turned a corner".

"The Baltic countries have turned the corner... have bottomed out," Mark Allen, IMF resident representative for Central and Eastern Europe, was quoted by Reuters as saying.

"Growth prospects will depend on how well these countries can shift to a more export-oriented model," he sai.